Why Solana Is Sinking Today

Solana (CRYPTO: SOL) was losing ground in Thursday trading, having dropped by 3.2% over the previous 24 hours as of 12:15 p.m. ET. Over the same period, Bitcoin was up 0.5% and Ethereum was down 1.5%.

Solana's fall came after the Chicago Mercantile Exchange (CME) said that it does not have a plan to begin offering futures for the token as an investment vehicle. The CME currently offers options trading for Bitcoin and Ethereum, and some investors have been hoping that options trading for Solana could help send its token price higher.

Solana's price had recently seen some bullish momentum in conjunction with a beta page that was briefly available on CME's website that suggested options trading for both Solana and XRP could begin on Feb. 10. That page was regarded as a leak by some investors in the crypto space.

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Source Fool.com